Allianz X invests $59M in American Well partnership

Allianz X, the digital investment unit of insurer and asset manager Allianz, invested $59.2 million in a strategic partnership with American Well. The partnership is focused on the development of digital solutions to increase access to healthcare and control costs.

The digital health solutions that Allianz X and American Well develop will build on American Well's platform and leverage Allianz's international expertise. The solutions will combine wearable sensors, remote monitoring and virtual visits.

The partnership will work with local healthcare stakeholders to deliver healthcare solutions to both developed and emerging markets.

Allianz X led the investment, with Health Innovation Center of Allianz Partners, the business-to-business-to-customer unit of the Allianz Group, supporting the investment. Allianz has a qualified network of more than 800,000 medical providers around the globe.

"Allianz X's investment with American Well will result in better access, lower cost and more connected care for our customers through a leading-edge health platform. This collaboration emphasizes Allianz's commitment to digitalization, our goal of investing in digital frontrunners and encourages advancements within the whole healthcare ecosystem," said Solmaz Altin, chief digital officer of Allianz Group.

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